What is an IFSC code?

An IFSC is an 11-character alphanumeric code and it stands for Indian Financial System Code. It is used to identify those bank branches that participate in electronic payment systems such as NEFT, RTGS, and IMPS.

How to find the IFSC of my bank?

You can find your bank's IFSC code by using our IFSC code search tool. Just enter your bank name, branch or location to get the IFSC code.

Is the IFSC code the same for all branches of a bank?

No, each branch of a bank has a unique IFSC code. This makes sure that any form of payment gets routed to the correct bank and branch.

Can a bill be paid online without an IFSC code?

No, not at all. An IFSC code becomes mandatory during any online transaction such as NEFT, RTGS, and IMPS. This helps locate the exact bank branch at the time of the transaction.

Where in my checkbook do I find the IFSC code?

The IFSC code is usually on top or bottom of the first page of your checkbook, near the account number or some information about the branch.

What if I use the wrong IFSC code to make any payment?

In case of using an incorrect IFSC, the payment may not get through or may reach some other branch. Always verify the IFSC code before undertaking any online transaction.

How frequently is IFSC code changed?

Whenever any bank has to face any action in the form of merger, re-branding, or shifting the branch at any other location, an IFSC code can be altered. Always check for updated IFSC code using our tool before proceeding for any transaction.

Is IFSC the Swift code?

Find out the difference between IFSC and Swift code

The major clear difference between two is, IFSC is used for domestic transfers within India, while SWIFT codes are used for international transfers.

These banking codes, such as IFSC and SWIFT, are of utmost importance for money transfer, especially in these modern and digital times. While they mean smooth, safe, and successful facilitation of a transaction, the two codes are different in purpose. This article breaks down the differences between the two and explains when and where each code is used.

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Key Features of IFSC:

Format: It is 11 characters long.

First 4 characters: Identify the bank.
Fifth character: Always a zero (0).
Last 6 characters: Represent the specific branch of the bank.

Key Features of SWIFT:

Format: SWIFT codes are usually 8 to 11 characters long.

First 4 characters: Identify the bank.
Next 2 characters: Represent the country.
Next 2 characters: Indicate the location of the bank.
Last 3 characters (optional): Specify the branch.

When Do You Use IFSC and SWIFT Codes?

IFSC for local transfers

IFSC is used when one is doing a transfer in India. Sending money to friends or paying for any service carried out in India, requires using the IFSC code of the recipient’s bank branch.

SWIFT for international transfers

SWIFT plays an important role, particularly in international transactions. Let’s say someone outside India is transferring money to you, or you want to transfer money internationally; the SWIFT code will be crucial for transferring the amount to the correct bank in the proper country.

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Key Differences Between IFSC and SWIFT Code

Feature	IFSC	SWIFT
Full Form	Indian Financial System Code	Society for Worldwide Interbank Financial Telecommunication
Length	11 characters	8 to 11 characters
Used for	Domestic transfers within India	International transfers
Region	India only	Global
Transaction Types	NEFT, RTGS, IMPS	International transfers, wire transfers
Example	HDFC0000123	HDFCINBBXXX

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Frequently asked questions

What is the difference between IFSC and SWIFT code?

IFSC (Indian Financial System Code) is used for domestic transactions within India, while SWIFT (Society for Worldwide Interbank Financial Telecommunication) is used for international transactions.

Can I use IFSC code for international money transfers?

No, the IFSC code is only used for domestic transactions within India. For international transfers, you need the SWIFT code.

How do I find the IFSC code of a bank branch?

You can find the IFSC code on your bank’s website, the RBI website, or on the cheque issued by your bank

Where can I find the SWIFT code for my bank?

The SWIFT code is usually available on your bank’s website, in your bank statements, or by contacting your branch. It’s also available in the SWIFT directory. Contact us for more details.

How long does it take for an international transfer using SWIFT?

International transfers using SWIFT usually take 1 to 5 business days, depending on the banks involved and the countries of transfer.

Most Popular IFSC code searches in 2024

With the rapidly growing and vibrant digital economy of India, online banking transactions have gradually become routine affairs. Now, the IFSC helps facilitate these transactions and makes the money transfer processes secure and accurate. Below list takes through the most searched IFSC codes in India and gives insights into which bank branches are frequently queried.